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Abe Wolf bought a new kitchen set at Sears. Abe paid off the loan after 64 days with an interest charge of $12. If Sears charges 9% interest.

What did Abe pay for the kitchen set (assume 360 days

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I = PRT

12 = P * 0.09 * 0.1753

12 = 0.01578P

12/0.01578 = P

$760.46 = P

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